Dow - Continues to climb.

The latest comment from Marc Faber is very bearish. He told 'Fox Business' that he was 100% certain that U.S. would enter a recession.

"I am now bearish about practically all assets near term. I think we're entering a correction time, where there will be some disappointment, where stock markets from the recent highs can easily drop 20%"

In another interview by CNBC, he said,"I just want to have a lot of cash because I think that within the next 6 to 9 months we can buy just about anything 20% lower than it is now."

Meanwhile Dow continues to moves higher to complete the last journey of its major wave 1. At this moment, one hour after the opening bell, Dow added about 65 points standing at 13,641 level, which is higher than its recent high of 13,596 (Sept. 20).

An alternative wave count for Dow is as shown below.

Dow is about to complete its sub-wave iii of its wave (v).


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